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Listed by Maxwell Brown • Commercial Asset Advisors
$2,500,000
Est. payment /mo
0.33 Acres Lot
Active
21 33 S 35th ST San Diego, CA 92113
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Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRPTP2502876
Year Built 1960
Lot Size 0.333 Acres
Source California Regional MLS
Property Description
We are pleased to present the opportunity to acquire a high-yield, mostly renovated, low-density, double-lot multifamily asset with a detached 3 bed / 2 bath house in Central San Diego. 21-33 S. 35th Street was originally constructed in 1960, with 9 of the 10 units renovated in 2022, including the buildout of the two ADUs. The asset consists of 5 buildings: a detached 3 Bed/ 2 Bath house, a 1 Bed / 1 Bath detached cottage, a quadplex of (4) 1 Bed / 1 Bath units, a duplex of (2) studios, and a duplex of (2) 2022-completion studio ADUs. All but two units have mid-sized private yards, helping to drive longer-term occupancy and higher rents. The property is well parked, with 13 off-street parking spaces for the 10 units, providing over 1 parking space per bedroom. The asset is centrally located in Logan Heights, providing quick access to Downtown San Diego, Coronado Island, Balboa Park, North Park, South Park, and the San Diego Navy Base, airport, and bay-all within a 10-minute drive. Select units possess views of the Downtown San Diego skyline and the Coronado Bridge. 21-33 S. 35th Street offers strong in-place financial metrics at $206,940 gross scheduled annual income, with the immediately available rent increases yielding a 5.38% cap rate. Additionally, the existing rents are
Location
State CA
County San Diego
Area 92113 - Logan Heights
Interior
Laundry Laundry Area
Exterior
Pool None
Others
Tax ID 5461360200
Special Listing Condition Not Applicable
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